empty
 
 
20.04.2022 05:31 AM
Forecast for USD/JPY on April 20, 2022

The yen managed to find reserves in itself to pass another range of embedded price channel lines of the monthly timeframe. This morning, it almost reached the upper border of the price channel at 129.80 (the price showed a high of 129.41), after which there was a quick rollback to the downside. This rollback made it possible to form a technical divergence of the price with the oscillator, which had been in preparation for a week and could not form. The divergence needs to consolidate, and for this, today's daily candle must be black. We are waiting for a corrective decline to the price channel line at 125.11, and this level corresponds to the high on March 28.

This image is no longer relevant

Only the first sign of the price's intention to turn into a correction is visible on the H4 chart - a sharp reversal of the signal line of the Marlin Oscillator. Here, as well as on the daily timeframe, the best tactic would be to wait for any consolidating signs of a reversal that has begun.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback